Phillips 66 Partners LP (PSXP) is Initiated by Mizuho to Buy, Price Target at $55

Phillips 66 Partners LP (PSXP) was Initiated by Mizuho to “Buy” and the brokerage firm has set the Price Target at $55. Mizuho advised their investors in a research report released on Sep 30, 2016.

Many Wall Street Analysts have commented on Phillips 66 Partners LP. Phillips 66 Partners LP was Initiated by Goldman to “Neutral” on Aug 25, 2016. Phillips 66 Partners LP was Initiated by Jefferies to “Hold” on Aug 23, 2016. Stifel Initiated Phillips 66 Partners LP on Aug 18, 2016 to “Buy”, Price Target of the shares are set at $59.

On the company’s financial health, Phillips 66 Partners LP reported $0.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $0.50. The company had revenue of $140.40 million for the quarter, compared to analysts expectations of $126.73 million. The company’s revenue was up 67.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

Phillips 66 Partners LP closed down -0.18 points or -0.38% at $47.7 with 2,82,888 shares getting traded on Tuesday. Post opening the session at $47.88, the shares hit an intraday low of $47.31 and an intraday high of $48.028 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on May 24, 2016, Mark Haney (director) purchased 8,000 shares at $52.94 per share price.

Phillips 66 Partners LP owns operates develops and acquires fee-based crude oil refined petroleum product and natural gas liquids (NGL) pipelines terminals and other transportation and midstream assets. The Company’s assets consist of crude oil and refined petroleum product pipeline terminal rail rack and storage systems in the Central Gulf Coast Atlantic Basin and Western regions of the United States. Its assets also consists of systems which include Clifton Ridge Crude System Sweeny to Pasadena Products System Hartford Connector Products System Gold Line Products System Medford Spheres Bayway Rail Rack Ferndale Rail Rack Cross-Channel Connector Project Palermo Rail Terminal Project and Eagle Ford Gathering System Project. Phillips 66 through Phillips 66 Company owns 20938498 common units and 35217112 subordinated units representing an aggregate 73.3% limited partner interest and a 100% interest in Phillips 66 Partners GP LLC (the Company’s General Partner).

Phillips 66 Partners LP

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